Sellsy Secures €55 Million from PSG to Accelerate Growth
PSG’s investment seeks to create a leading cloud CRM & FMS software suite for SMEs in France and Europe
PARIS, France – Sellsy, a leading French provider of all-in-one CRM and FMS (financial management system) software solutions for SMEs, today announced it has secured €55 million in funding from PSG, a leading growth equity firm partnering with middle-market software and technology-enabled services companies.
Sellsy offers a fully-fledged CRM solution, including lead management, quotation and pipeline, marketing automation and contact management, coupled with key FMS functionalities including invoicing, payment reconciliation and liquidity management. The combination of CRM and FMS features in an all-in-one software suite allows Sellsy to cover end-to-end the sales prospecting, invoicing and reporting needs of SMEs in one platform that is built around flexibility and ease-of-use. Sellsy’s comprehensive and integrated set of digital tools helps customers save time, boost sales and simplify accounting, and enables SMEs to spend more time focusing on managing and growing their businesses.
Sellsy has rapidly grown to become a market leader in France, with ~6,000 SME customers and serving ~35,000 end users today. Sellsy’s growth to date has primarily been organic through a focus on addressing the underserved and underpenetrated SME market, where the majority of SMEs do not use modern CRM or FMS software today.
Sellsy was founded in 2009 in La Rochelle by Co-CEO Alain Mevellec and Chairman Frederic Coulais, who later welcomed Co-CEO Victor Douek as he joined the company in 2016. Following the transaction, Sellsy will continue to be led by the existing management team, working in partnership with PSG to accelerate growth and play a central role in current the wave of digitalisation of SMEs across Europe.
“We are delighted to be partnering with Alain, Frederic, Victor and the rest of the team at Sellsy as we look to build on the company’s market leading position in France,” said Christian Stein, Managing Director at PSG. “We believe that Sellsy is well-positioned to benefit from the growing digitisation of SMEs and has the potential to become an all-in-one CRM and FMS software champion for SMEs in France and Europe.”
Alain Mevellec and Frederic Coulais, Co-Founders of Sellsy, added, “We believe that we have found an excellent partner in PSG based on the firm’s significant experience in supporting founder-led software companies seeking to build category leaders. We are looking forward to working with the team at PSG to identify and execute on new opportunities to further accelerate the growth and scale of the business.”
Victor Douek, Co-CEO of Sellsy, said, “Not only do we believe that PSG has the expertise to help boost growth at a company like Sellsy, but we also both share an ambitious vision to build on the company’s current leadership position in France and create a true SME software champion in France and Europe.”
The financial terms of the transaction are not disclosed.
PSG is a growth equity firm that partners with middle-market software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities, and build strong teams. Having backed more than 85 companies and facilitated over 325 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, and London. To learn more about PSG, visit www.psgequity.com.
Founded in 2009, Sellsy is a French SaaS software company that offers a fully-fledged CRM suite for SMEs, integrating marketing, sales, billing and payment tools. Its solution currently ~35,000 users in ~6,000 companies to save time, boost sales and simplify accounting. Sellsy is a digital platform designed to be used by the entire company, including marketing, sales and administrative teams. https://go.sellsy.com/